Ravindra Energy Reports Strong Growth in Renewable Energy and EV Segments

Ravindra Energy Limited has announced a significant business update, highlighting substantial progress in its renewable energy and electric vehicle (EV) operations. The company has demonstrated robust growth across multiple segments, with notable achievements in solar power generation and EV infrastructure development.

Renewable Energy Expansion

Ravindra Energy has reported an operating capacity of 187.3 MW in its renewable energy segment. The company has commissioned 100 MW AC/135 MW DC under the Mukhyamantri Saurya Krishi Vahini Yojana (MSKVY) Phase 1, along with 11 MW of open access projects in the Akhadabalapur solar park.

The company's growth trajectory in the renewable sector is further evidenced by its ongoing and future projects:

Under construction: 45 MW AC/58 MW DC, with a targeted completion by March 2026
MSKVY Phase 2: 44 MW AC/57 MW DC, with work commenced at 7 out of 15 sites
Under development: 182 MW AC/227 MW DC, including projects from MSEDCL and HESCOM

Electric Vehicle Business Progress

Ravindra Energy's foray into the electric vehicle segment has shown promising results:

Commissioned two swap stations: one in JNPA Port (Navi Mumbai) and another in NCR (NH-44-Sonepat)
Sold 91 e-tractors to date, with a total order book of 185 e-tractors
Secured a contract from India's largest cement company for transporting 50,000 MT per month, expecting to deploy 45 e-tractors

Financial Performance

The company's financial results for H1 FY2025-26 reflect its growth:

Particulars	Amount (in crore)
Total Revenue from Operations	143.55
Profit After Tax	38.65
Net Worth	393.80
Total External Borrowings	388.67

The EV business segment generated revenue of Rs 44.7 crore with a gross margin of Rs 3.9 crore, although it reported a loss of Rs 1.7 crore for the period.

Corporate Governance

Ravindra Energy has appointed Mr. Apurva Chandra as an Additional Director in the capacity of Non-Executive, Independent Director for a term of five years, subject to shareholder approval. Mr. Chandra, a senior Indian Administrative Service officer, brings over 36 years of experience in public administration, policy formulation, and industrial development to the board.

Ravindra Energy's strategic investments in renewable energy and electric vehicle segments, coupled with its financial performance, position the company for future growth in the sustainable energy sector. The company's focus on expanding its solar power generation capacity and developing EV infrastructure aligns with the growing demand for clean energy solutions in India.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.64%	-6.26%	+10.22%	+43.12%	+43.11%	+89.41%

Ravindra Energy Limited has reported modifications in fund allocation for its Rs. 180 crore preferential issue of equity shares. The company, which raised Rs. 179.99 crore, has made adjustments to its fund utilization across three business segments, staying within the pre-approved 10% deviation limit set by shareholders.

Fund Reallocation Details

Business Segment	Original Allocation (Rs. Crore)	Modified Allocation (Rs. Crore)	Funds Utilized (Rs. Crore)	Deviation (Rs. Crore)
Renewable Energy	90.00	95.50	95.50	+5.50
Electric Vehicle	60.00	54.50	46.51	-5.50
General Corporate Purpose	30.00	30.00	29.98	0.00
Total	180.00	180.00	171.99	0.00

Key Points of the Reallocation

Renewable Energy Business: The allocation has been increased from Rs. 90 crore to Rs. 95.50 crore, with the entire amount already utilized.
Electric Vehicle Business: The allocation has been reduced from Rs. 60 crore to Rs. 54.50 crore, with Rs. 46.51 crore utilized so far.
General Corporate Purpose: The allocation remains unchanged at Rs. 30 crore, with Rs. 29.98 crore utilized.

The company stated that the reallocation of Rs. 5.50 crore falls within the 10% deviation limit pre-approved by shareholders. This adjustment aligns with the NSE Circular No. NSE/CML/2022/56 and BSE Circular No. 0221213-47, both dated December 13, 2022, which allow for such flexibility in fund utilization.

Monitoring and Compliance

India Ratings and Research Private Limited, appointed as the Monitoring Agency, has overseen the fund utilization. Ravindra Energy has complied with regulatory requirements by submitting the necessary reports and disclosures to the stock exchanges.

Business Update

Ravindra Energy has also provided a business update, highlighting its progress in the renewable energy sector:

Operating capacity as of the report date: 187.3 MW
Commissioned 100 MW AC/135 MW DC under MSKVY Phase 1
Commissioned 11 MW of open access projects in Akhadabalapur solar park
Under construction: 45 MW AC/58 MW DC, with targeted completion by March 31, 2026
Received Letter of Award from MSEDCL for MSKVY Phase 3 for 120 MW AC projects, with scheduled completion by March 2027
Declared L1 in HESCOM bid for 62 MW AC

The company is also making strides in its Electric Vehicle (EIM) business:

Commissioned two swap stations in JNPA Port (Navi Mumbai) and NCR (NH-44-Sonepat)
Sold 91 e-tractors to date with a total order book of 185 e-tractors
Received LOI from a major cement company for transporting 50,000 MT per month under a long-term contract

These developments indicate Ravindra Energy's commitment to expanding its presence in both the renewable energy and electric vehicle sectors, aligning with the modified fund allocation strategy.

The reallocation of funds demonstrates the company's adaptive approach to changing market conditions and business priorities while maintaining transparency with its shareholders and regulatory bodies.